Yoga guru Ramdev’s Patanjali has denied bidding Rs 9,000 crore for debt-ridden edible oil maker Ruchi Soya Industries.
“#Ruchisoya did not manage the interests of farmers and the consumers, also money of lakhs of investors got wasted,” Patanjali’s spokesperson SK Tijarawala tweeted.
“The news of applying a bid of 9000 crore rupees (bid) by Patanjali is wrong. We are evaluating. We understand the value of money of the common people of this country,” Tijarawala tweeted yesterday.
He said the acquirement was synergistic with the company since it is “swadeshi”.
Ruchi Soya brand includes Nutrela, Mahakosh, Sunrich, Ruchi Gold and Ruchi Star.
According to reports, Ruchi Soya’s debt stood at about Rs 12,000 crore as of December 31, 2017, and lenders dragged the company to the NCLT last year.